Chapter 7 v. Chapter 13

You may be wondering whether a chapter 7 or a chapter 13 bankruptcy is the right option for you. A chapter 7 is a liquidation bankruptcy where most debts are discharged and you never have to repay them. A chapter 13 is a reorganization bankruptcy where you must repay the debts (or a reduced amount) over a 3 to 5 year period. Generally, if you have assets which are exempt under federal or state exemptions and little or no money left at the end of the month, you should file a chapter 7 bankruptcy. If you have significant assets that cannot be exempted and you have excess income at the end of the month, you should file a chapter 13 bankruptcy.

To best serve our clients, we focus on chapter 7 bankrupty.

 

Law Offices of Jay Bhatt

618 Newark Avenue, Suite 210

Jersey City, NJ 07306

Phone: (201) 798-8000

Fax: (201) 798-8001

 

Chapter 7 Bankruptcy Info

Consultation Checklist

Click Below for a complete checklist of items that are necessary to proceed with a chapter 7 bankruptcy. We suggest you bring these to our office during the first consultation or supply them by fax or email if the consultation is done over the phone or via the internet.

Client Testimonials

Thank you for helping my wife and I. You have been an angel in our lives during these tough times. You have given us a fresh start. God bless you.

- Edward S.-

I'm grateful for having you take care of my case. The credit card bills, medical bills and lawsuits were a constant stress in my life. I am so glad that I took the next step. I can finally breathe again.

- Rafael R.-

When I became unemployed, I thought I had no way out. My credit card debts would continue to increase and I was overwhelmed with phone calls from collectors. Fortunately, I found Jay Bhatt who advised me to file for chapter 7. It was the best decision I ever made. He is very knowledgeable, experienced and most importantly he works fast. For a reasonable fee, I got out of my debts in no time. I have gone back to work full time and my previous debts have been discharged. Thanks Jay for your help.

- Ana A.-